As a trader and investor, you need to make a solid decision according to your analysis and strategies, this becomes quite difficult when more than a thousand stocks are trading in the stock market. This is where a stock market screener comes and becomes one of the important tools for you in your trading and investing activities. In this article, we will see the importance of a screener and the best screener for Indian stock market.
The best screener for Indian stock market are Screener.com, Chartink.com, and Finviz.com, which are web based screeners for the stock market. There are a few more which we will see further in this article.
What Is Screener For Indian Stock Market?
A screener for Indian Stock Market is a software or web based (website) tool through which the traders and investors can scan multiple stocks with different filters.
These filters can include Fundamental checks like price-to-earning ratio (P/E), profit growth, dividend yield, promoter’s holdings, Technical checks as moving averages and relative strength index (RSI), Candlestick checks like Hammer, Morning Star, Hanging man, and Chart pattern checks like Double Top, Double Bottom, Support Resistance.
The screener scans all those more than a thousand stocks at a time that trading in the stock market and in a very short time gives you the list of stocks in results that are available and match to filter that you have set in the screener scan.
Importance of Screener In the Stock Market.
Analysis and Research Become Simple.
Monitoring and researching a single stock can be a time-consuming task and this can be more difficult when finding the correct stock from those more than a thousand stocks that are trading into the stock market. Here, investors and traders need a reliable tool like a stock screener which helps them to scan all stocks and find the correct stock according to the required filter.
Investors and traders can be depended on the screener to quickly find the position in the best stock based on the filter that has been set.
Scan Stocks With Multiple Filters.
While performing analysis and researching, we check stock in multiple methods as mentioned above Fundamental, Technical, Candlestick, and Chart pattern, each of these methods has multiple patterns. Screener can check all these methods in one way once we set filters for all these and accordingly, the stocks that are applicable based on the filter will list you in the result. This way you can scan stocks through these all methods and find the best stocks for you.
Save Effort and Time.
While manually finding the stocks with different methods take a lot of time and need more effort, also while utilizing time and effort in stock you may miss another stock at the right time. Stock Screener can save you time and effort, you just need to set filters as per your requirements, and within a few minutes, you will get all stocks that you are looking for. Investors and traders get more time to focus on the correct stock.
How To Select the Best Screener For Indian Stock Market?
Selecting the best stock market screener is the most important. Before using any stock market screener you need to make sure that your requirement is getting fulfilled and that you have access to the required features, along with these below are a few things that you need to make sure of when selecting the best stock market screener.
- User Friendly: Makes sure the screener Graphical user interface (GUI) is user-friendly which means it is easy to find filters and results.
- Customization/Filters: Make sure the screener has a specific filter that you need and is easy for customization.
- Real-Time Data: While using the screener for Intraday trading, make sure the screener has real-time data, it’s difficult that this feature is available with a free subscription. Most of the screener has this feature available with a paid subscription, if you are getting accurate data then it will be worth trying the paid version.
What Is The Best Screener For Indian Stock Market?
We have found some best web-based stock market screeners for you and we have given a review for each of them which will help you to get the best one.
Screener is one of the best web-based screeners for doing Fundamental analysis. Screener comes with all required features and in-depth data that is required in Fundamental analysis. Screener is Free to use and provides 99% of features with a Free version.
Screener has a simple interface that loads faster. Screener provides updated data and all required information about stock financial status in the free version. The Screener interface is user-friendly and all data is available on a single page which saves time a lot, just search for the stock and all data is available on a single page.
Screener has multiple predefined screens/filters like Highest YOY Quarterly profit growth, Quarterly Growers, Highest Dividend Yield Shares, High Growth High RoE Low PE, these screens/filters are available for you to use in the Free version. These screens/filters will list all stocks that are applicable as per the applied filter.
Create New Screen.
Create new screen allows you to execute the query/parameter/filter that you like to see which stocks are currently applicable for that particular query/parameter/filter, this feature also provides you with auto-suggestion to execute the query.
Chartink is web based stock market scanner tool that provides access to all types of screeners like Fundamental, Technical, Candlestick, and Chart pattern, all these types of screeners are Free to use, the only thing that comes with the paid version is that real-time data and you can set the alerts, rest of the things like you can do analysis with the help of screeners in the free version.
Chartink is completely web-based and has a user-friendly interface, a simple search box can give you more results than what you were looking for which helps investors and traders to find more stocks and do analysis on a large scale.
Except for real-time data and alerts, Chartink provides access to all predefined Filters/Screens, chartink has a number of Filters/Screens, according to these Filters/Screens you will get the list of stocks that are applicable to it. Some of the Filters/Screens are Fundamental Scans, Multibagger stock, Candlestick Patterns scan, Low debt companies, 15 minute stock breakouts, Intraday Bearish scan, and Intraday Bullish scan.
Create a Customized Screener.
You can also create your own customized screener, here you will get an autosuggestion in a dropdown that helps you with what you looking for.
finviz.com provide a screener for all over the world stocks and cryptocurrencies that are trading. finviz.com screener is also helpful for international investors and traders who trade in other countries’ stocks and indexes.
finviz.com screener interface can be quite challenging. Only a few Exchanges and Index listed in the free version, here you can use the country section to find your Exchange stocks.
finviz.com screener has some selective screeners to create a screen you need to go for a paid version. The free version will also list all stocks that are suitable for you as per the filter/screener, under each option you will get a sub-option in a dropdown, as per your selection it will list all applicable stocks which you can check and analyze.
Create a Customized Screener.
As mentioned above you can create your own screener under paid version, if you would like to go for paid version you can click here and follow the steps.
Stock Market Screener is the most important tool for investors and traders who looking to make a solid decision in the Stock Market. Using Stock Market Screener investors and traders can simplify their analysis and research, it will save time and effort, and in a short time, you can analyze more stocks. Considering the limitation of the Stock Market Screener it should use only for finding the right stock and further you can perform your analysis and research on stocks that Screener has sorted for you.
Frequently Asked Questions about Best Screener For Indian Stock Market.
What Is Screener In Stock Market?
Screener In Stock Market is a software or web based tool that scans multiple stocks at one time and gives you a list of stocks in output as a result that is applicable to the filter that has been set.
What are the benefits of a stock screener?
Analysis and researching a stock is time consuming and need a lot of effort, by using a stock screener you just need to set what you looking for like stock close to 200 MA, and the screener will scan all stocks and give you the list of stocks that are close to 200 MA in a very short time, these can help you on further analysis.
How do I choose a stock screener?
Selecting a suitable stock screener is most important, first, confirm whether you are looking for a Fundamental screener or a Technical. Make sure the screener has all required filters, and also make sure you have access to all its feature. The stock screener interface should be user-friendly and navigate filters/scans easily.
Which is the best screener for Indian stocks?
Which is free screener for share market?
What is strongest stock screener?
Do I need a stock screener?
Investors and traders need to take solid decisions in the stock market, sometimes it takes a lot of time, effort to analyze, and research stocks during the live trading session. Stock screener simplifies the analysis and helps Investors and traders to find good positions in the stock.
What is the use of screener?
Analysis and researching a stock is time consuming and need a lot of effort. By using Screener you can save lot of time and effort, Screener will scan all the stocks and in a very short period of time it give you the list of the best stocks as per the filters that you have set.